Md. Code, Local Government § 17–205

(a) The governing authority of each governmental entity shall adopt by

resolution a local investment policy that:

(1) meets the needs of the governmental entity; and

(2) is consistent with the local government investment guidelines

adopted by the State Treasurer under § 17–204 of this subtitle.

(b) Promptly after the adoption of a local investment policy, the

governmental entity shall mail a certified copy to the State Treasurer.

(c) If the State Treasurer determines that the local investment policy is not

consistent with the local government investment guidelines adopted by the State

Treasurer under § 17–204 of this subtitle:

(1) the State Treasurer shall notify the governmental entity; and

(2) the governing authority shall prepare and submit a revised local

investment policy that is consistent with the local government investment guidelines.

(d) If the governing authority amends the governmental entity’s local

investment policy, the governmental entity shall submit the new local investment

policy to the State Treasurer in accordance with subsection (b) of this section.